Bank of Canada cuts key rate by 50 basis points in oversized step | FULL

[@gloriavinez7674]

The government is such a life saver. We should buy them all coffee. What would we do without them 😮

[@masquereseau5635]

I also avoid any restaurants like the plague. Not giving my money to thieves.

[@jordancarlin9687]

@@masquereseau5635 restaurants are thieves ?

[@sheikhharun-or-rashid8243]

We need to cut 200 basic points.

[@masquereseau5635]

If they think I will increase my spending, they're crazy. I cut 80% of my subscriptions and also CAA Quebec. CUT! If my car breaks down, I will not replace it right away. Stopped going to the grocery store until I empty all my reserves. P.S. I'm not poor but I'm sitting in a comfortable chair while the crazies are still running around with the music playing.

[@Womba1009]

Lower borrowing costs means more demand, pushing up costs (inflation). It is the taxes that are restricting the economy, the government borrowing more than it needs and spending it on itself. Canadians need to repay their debts so the economy can grow in a real way instead of borrowing to grow. The bank only controls the interest rates so cuts are good for the flow of money and bad because that does not lower prices. We have seen a 20%+ increase in the cost of the economy since 2020. It is that cost that needs to come down and lowering interest rates will not do this. So we either get a 20%+ boost in wages that the banks said do not do, or we need a recession to bring the costs down. Lowering borrowing rates only creates demand for money, pushing up prices. Again, the bank only controls the flow of money and nothing else. It is the failure of government that has created the poor economy Canada has today. We need change from Government.

[@AstroBear11]

I have no debt : ) Maybe people's choices need to change...

[@Womba1009]

@@AstroBear11 Debt is not always bad if you have the ability and the drive to repay it. This is the issue, the amount of debt with the increased costs we got from the "thing". So consumers are slowing down on their spending so they can repay their debts where as the banks and government are saying just borrow even more. It makes no sense to borrow more, consumers need to repay their debts now so the economy can grow in the future. As for new consumers and "debt free" consumers yes they have the ability to spend and they are spending and should take advantage of high rates. For me this is poor advice to borrow more in the hope rates will remain low.

[@AstroBear11]

@@Womba1009 Debt bad. You've been conditioned...

[@Laomai24]

Lower global OIL PRICES!!?? Do you know what’s going on in the world!!??😂

[@KM-sr9cc]

The consumer prices have not come down, despite the (false) CPI report. Brace for $3.00 (if not more) gas prices at the pumps by Christmas & New Year's Eve, followed by (Jumbo) Inflation and (Jumbo) Rate Hikes (in 2025). Global Economic downturn is coming, and so is Global Inflation on the rise again. The Bank of Canada is well aware of the geopolitical instability in West Asia, one of the main reasons for the rate cuts at the moment but the key question is, HOW LONG will the low rates last?

[@Paragon_north]

That's carbon tax. If removed today then consumer goods cost will come down in 3 months

[@hernansoto6162]

Based on my understanding, the main issue with inflation is tied to the government's continued money printing, while lowering interest rates boosts purchasing power, further driving up the prices of goods and services. I don't believe Canada is currently in a recession (typically defined by two consecutive quarters of negative GDP growth). The real suffering for people comes from the depreciation of the value of money. CPI is an imperfect measure of inflation, as it provides an average representation of consumer spending but doesn't capture individual purchasing habits. It also suffers from substitution bias, failing to account for consumers switching to cheaper alternatives when prices rise. Additionally, CPI excludes key assets like real estate and investments, and it doesn't reflect regional cost differences, making it less comprehensive for measuring all aspects of inflation or the cost of living. In my opinion, a recession is a natural and healthy part of the economic cycle. Cutting interest rates in response is a mistake that could cause more harm than good in Canada. While recessions are painful in the short term, they bring long-term benefits by clearing out inefficient businesses, encouraging innovation, and correcting speculative bubbles and economic imbalances like excessive debt and inflated asset prices. Recessions also help ease inflationary pressures by reducing demand and promote more sustainable financial practices. Ultimately, they lay the foundation for healthier, more stable economic growth despite the immediate challenges. But maybe I am wrong, what do I know.... :)

[@Observer168]

Renters are cry and home owners are rejoicing but they waited way too long for these rate cuts. Unemployment skyrocketing

[@grandmufftwerkin9037]

Imagine where we'd be if Justin's government didn't pursue such disastrous fiscal policy.

[@gloriavinez7674]

Nowhere in the same place we are in now.

[@DeeSmith001]

​@@gloriavinez7674There's been no deviation from the course we were set upon in 1982 by the then liberal government of Pierre Eliot Trudeau, so you're not wrong. The song remains the same.

[@gloriavinez7674]

@@DeeSmith001 100% there is more than meet the eye. Cheers 🥂

[@StephenRoss-po1rp]

What do you mean ? What’s wrong with paying 35 cents of every tax dollar collected to pay interest only on Justin’s massive spending spree? Not sure what services improved. I don’t see a lot of money into infrastructure, but he must’ve spent it on something.

[@ramstrong1961]

Inside China Business - The Russia-China grains corridor will completely displace the US, Canada, Australia and France

[@FahTheSkyLovesPeace]

@@ramstrong1961 what a cool story

[@dizzykids6625]

The inflation numbers are only so low because of all the people they have brought here in the last two years. If you add a million newcomers, that's a 3 percent increase in the countries population in 2 years. That has a huge effect on inflation numbers as the money is now in more hands and chasing more goods. But its has no real effect on prices. Its temporary. Lower rates will send inflation higher this year.

[@grandmufftwerkin9037]

@@dizzykids6625 Finally, someone else who understands the shell game being played here.

[@dizzykids6625]

Brace for inflation fellow citizens

[@grandmufftwerkin9037]

Why do Justin's bank accounts and the Trudeau Foundation's assets smell like MSG? 🙃

[@luckykaren4]

You get your cheque they take taxes off .. and every time you buy something you pay more taxes.. How much your paycheque do you actually get?.. stealing from the little people

[@DeeSmith001]

Keep cookin them books like you're a Nortel accountant...

[@missmulalonde4467]

Of course they are gonna say what the gov't wants them to say..

[@Laomai24]

More I watch, more I think I am watching bad comedy. Global News must bring him to answer to economic experts. Really,

[@cyb_structure]

12.9k views out of 41M tells you all you need to know. ...

[@Aitch-102]

🤡 utterly clueless.

[@FahTheSkyLovesPeace]

We need more cuts!! ❤❤❤

[@gloriavinez7674]

Cut it down to 0% from 10 years plus.

[@FahTheSkyLovesPeace]

@@gloriavinez7674 0% ??? be realistic!

[@gloriavinez7674]

@@FahTheSkyLovesPeace that is realistic. Everything will balance out don’t worry. 😉

[@sharieatley9588]

Faster the better!

[@grandmufftwerkin9037]

I wonder if anyone is adding up the various misspent funds, unaccounted for funds, and dubious contract amounts that have occurred under Justin's government? 🤔

[@LTADI]

BoC u screewed up and you meedto resign and put some competent people in charge. You suck

[@Laomai24]

Support demand and keep inflation on target!!?? Is this guy late night comedian!!?? He is not f****n funny. I don’t care if it’s in French or English, he is talking bulks.😂😂 😂

[@luckykaren4]

I am about to loose my house my payments are so high .. it’s killing me..

[@luckykaren4]

What has happened Canadians get laid off because the new people coming in are willing to work for a cheaper rate…

[@luckykaren4]

What has happened Canadians get laid off because the new people coming in are willing to work for a cheaper rate…Big corporations getting richer off the poor people ..Pretty sad

[@mazkaibil9108]

We need a new government with common sense. Macklem doesn't care about anyone in Canada. Macklem's salary should be reduced.

[@gloriavinez7674]

@@mazkaibil9108govern yourself

[@jordancarlin9687]

@@mazkaibil9108 it’s over

[@Laomai24]

Is the lady a part of a decoration, is this Canadian style?

[@Jacko0_0]

This all means nothing

[@Aaron-rw3lv]

Thanks Trudeau

[@dangal9366]

Don't cut to fast. My mortgage only renews end 2025. 🤔

[@derek89273]

This wont help the price gouging that’s going on.

[@jordancarlin9687]

There is no price gouging . It’s called scapegoating grocers to lie about real inflation rates . Listen to this guy : they’ve been talking about “ stick the landing “for 3 years

[@dizzykids6625]

In fact, it's going to make it worse because now they can blame it on the incoming inflation.

[@georgesimon6041]

@@jordancarlin9687 Fact but the sheeple don't understand facts.

[@gloriavinez7674]

Prices will continue to rise folks

[@derek89273]

@@jordancarlin9687 you’re not seeing the prices in grocery stores go up. It’s hard to miss. I agree about the false narrative on the rate of inflation.

[@joelmcneney5366]

Need to refinance all of Trudeaus debt long term, before the black swan event that resets the currency.

[@jordancarlin9687]

@@joelmcneney5366 Lol . Thats not the plan though and I think that you know that

[@jordancarlin9687]

I do agree with the black swan though